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4427 Highland Oaks Cir Sarasota, FL 34235

3 Beds 2 Baths 2,067 sqft Built 1988

$500,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $241.90
  • 4 Days on Market
  • MLS # : T3282083
  • Updated Date : 12/25/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,067 sqft
  • Baths : 2 full
Listing Agent

Realnet Florida Real Estate

Listing Agent's Description

Stunning Renovated Golf Course home. Many new updates throughout this open floor plan home. Kitchen features new cabinets, new quartz countertops, new stainless steel appliances and tile backsplash. Dining Room features more cabinetry and counters plus a new wine fridge. New flooring, light fixtures and plumbing fixtures throughout. Both bathrooms have been completely updated with new tile, new frameless shower doors and new vanities and mirrors. Fresh interior and exterior paint and updated landscaping. The golf course views are stunning and there is room to add a pool if desired. Move fast as this one will go quick!

SEE MORE

MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: The Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k397k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Meadows

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100220023002400Rent in $11792412

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
GreatSchools Rating

Booker Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 62
4
GreatSchools Rating

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,845
Property Tax -$468
Property Insurance -$163
HOA -$106
Property Management Fees -$129
CASH FLOW
-$170

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$500,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$24,760

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,540

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,995

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,9954$2,1005$2,540
$2,540
RENT COMPS ANALYSIS
  • 4427 Highland Oaks Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.23
    •  
  • 3414 Crystal Lakes Ct Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 4907 Taywater Dell Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 1981
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 3432 Crystal Lakes Ct Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1992
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
  • 5307 Angeles Ave Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
PROPERTY LISTING DETAILS
Lance Bache
1.941.685.3883
Realnet Florida Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282083
Last Updated: 12/25/2020
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